Time goes by so slowly (for those who wait): a field experiment in health care | Latin American Economic Review
Sofía Garrido & Emilio Gutiérrez exploit a unique field experiment to recover the willingness to pay (WTP) for shorter waiting times at a cataract detection clinic in Mexico City, and compare the results with those obtained through a hypothetical dichotomous choice questionnaire. The WTP to avoid a minute of wait obtained from the field experiment ranges from 0.59
The dynamic linkage between renewable energy, tourism, CO2 emissions, economic growth, foreign direct investment, and trade | Latin American Economic Review
Because of the lack of econometric studies in relevance to the link between tourism and renewable energy, the goal of this study written by Mehdi Ben Jebli, Slim Ben Youssef & Nicholas Apergis, is to remedy this lack and to explore the causal relationships between renewable energy consumption, the number of tourist arrivals, the trade openness ratio, economic growth,
A dynamic factor model for the Mexican economy: are common trends useful when predicting economic activity?
In this paper Francisco Corona, Graciela González-Farías and Pedro Orraca propose to use the common trends of the Mexican economy in order to predict economic activity one and two steps ahead. We exploit the cointegration properties of the macroeconomic time series, such that, when the series are I(1) and cointegrated, there is a factor representation, where
Games that appear to be independent, involving none of the same players, may be related by emotions of reciprocity between the members of the same groups. In the real world, individuals are members of groups and want to reward or punish those groups whose members have been kind or unkind to members of their own.
A new approach to cointegration developed by Enders et al. (Cointegration tests using instrumental variables with an example of the U.K. demand for money. Unpublished working paper written by Frederick H. Wallace. http://wenders.people.ua.edu/time-series-methods.html, 2008) is applied to long-span, high-frequency data to test for purchasing power parity in the Mexico–US real exchange rate. Overall the empirical
A well-functioning monetary transmission mechanism is critical for monetary policy. As the Dominican Republic recently adopted an inflation targeting regime, it is even more relevant to guarantee that changes in the monetary policy rates are quickly and fully reflected in retail rates, to eventually influence aggregate demand and inflation. This paper written by Francesco Grigoli
This paper written by Francisco Parro and Loreto Reyes presents evidence on a rise and fall in income inequality in Chile during the past two decades. We show that income inequality rises from 1990 to 2000 and then falls from 2000 to 2011. We perform simple but informative decompositions to figure out the contributing factors
Defence expenditure and economic growth in Latin American countries: evidence from linear and nonlinear causality tests
Using SIPRI’s new consistent database on military expenditures, the paper written by Christos Kollias, Suzanna-Maria Paleologou, Panayiotis Tzeremes and Nickolaos Tzeremes, examines the economic effects of such spending in the case of the 13 Latin American countries. Employing both linear and nonlinear tests, the nexus between defence spending, economic growth, and investment is investigated for the
This paper written by Samuel Morley disaggregates the various sources of rural income growth in Peru between 2004 and 2012 and shows that about 80% of the increase came from rising earnings and only 15% from transfer programs. This increase in rural earnings was not led by agriculture. It was mainly because of a general rise
Impact of environmental and social attitudes, and family concerns on willingness to pay for improved air quality: a contingent valuation application in Mexico City
By means of a single-bounded, referendum format contingent valuation, this paper written by Massimo Filippini and Adán L. Martínez-Cruz, estimates willingness to pay (WTP) for improved air quality among residents of Mexico City Metropolitan Area (MCMA). Findings from this paper illustrate heterogeneity in WTP associated with environmental and social attitudes, and family concerns. For instance, WTP